The Anglo American subsidiary expected headline and basic earnings to fall to between R11.65-billion and R12.45-billion for the year ended December 2012, compared with the R17-billion reported in 2011.

Headline earnings a share and earnings a share were expected to reach between R36.30 and R38.80, down from the R53.13 and R53.11 recorded respectively the year before.

Kumba earlier reported losing 120 000 t/d of production after a group of employees halted production and occupied the Sishen mine from October 3 to 16 – in contravention of a court order – demanding higher wages.

Kumba would report on its financial results for the 12 months to December on February 12.

By: Natasha OdendaalUpdated 6 hours ago
Dual-listed gold miner AngloGold Ashanti on Tuesday said it has received interest from an unnamed company for the buy-out of the gold miner’s stakes in its joint venture (JV) mines in Mali. AngloGold aimed to dispose of its 41% stake in Sadiola and its 40% stake in Yatela – both JV operations with Canadian miner Iamgold – which produced a respective 85 000 oz and 11 000 oz of attributable gold in 2014. →